Second charge mortgage new business volumes grew by 24% in June 2022

New figures released by the Finance & Leasing Association (FLA) have indicated that second-charge mortgage new business volumes grew by 24% in June 2022.

Commenting on the latest new business figures for the second charge mortgage market, Fiona Hoyle, Director of Consumer & Mortgage Finance and Inclusion at the Finance & Leasing Association (FLA), said “The second charge mortgage market continued to report new business growth in June, but at a slower rate than in recent months.  Annual new business volumes in June surpassed the pre-pandemic peak for the first time reaching 30,849 new agreements.”

“As always, customers who are concerned about meeting payments should speak to their lender as soon as possible to find a solution.”

	Jun 2022	%  change on prev. year	3 months to Jun 2022	% change on prev. year	12 months to Jun 2022	% change on prev. year
Value of new business (£m)	130	29	390	44	1,360	61
Number of new agreements (No.)	2,854	24	8,529	37	30,849	52